[서울]
:
대외경제정책연구원

Date

2001

Series Title; No

정책분석

Pages

229

Subject Country

South Korea(Asia and Pacific)

Language

Korean

File Type

Documents

Original Format

pdf

Subject

Economy < Trade

Holding

대외경제정책연구원; KDI 국제정책대학원

License

Abstract

Since the late 1980s, Korea's exports to Latin America have grown remarkably due to some favorable factors: first, gradual reduction of external tariffs in Latin American countries, which have abandoned their protective trade policies based on the traditional import substitution industrialization policy; second, stable economic growth derived from strong economic reform policies; third, expansion of market scale through the creation of sub-regional economic integration, including the formation of MERCOSUR. As a result, in Korea, the Latin America has been recognized as a leading and stable market with which Korea enjoys a trade surplus. This blind faith in the Latin American market has caused Korea to overlook some of the problems in its exports to the region which began to appear in the late 1990s. (The rest omitted)